This rendering shows The Collection, A&B Properties’ planned 466-unit mixed-use condominium project it plans to build on the former CompUSA site in Honolulu’s Kakaako neighborhood.

Alexander & Baldwin Inc.’s subsidiary has acquired the three acre former CompUSA lot in Kakaako from Kamehameha Schools that it will use to develop its 466-unit mixed-use The Collection condominium project. Construction is scheduled to start soon and estimated to be completed in late 2016.

Terms of the deal were not disclosed.

Located at 600 Ala Moana Blvd., the $200 million project is made up of three residential components.

The Tower, which is currently 76 percent sold, and includes 397 units in a 43-story building, is the project’s initial component.

The second phase is The Lofts @ The Collection, which consists of 54 condo residences within a four-story mid-rise building, and sold out in less than a day.

Plans for the final phase of The Collection, 14 urban townhomes, will be announced at a later date.

The Collection, which is bounded by Ala Moana Boulevard, and Auahi, South and Keawe Streets, also has 13,000-square-feet of commercial space planned for shops and restaurants.

Homebuyers looking to score a loft at Alexander & Baldwin’s Honolulu condominium project The Collection in Kakaako waited in lines for hours over the weekend to pay at least $349,000 for a studio, the developer said Monday.

In all, 54 owner-occupied lofts sold, including 48 studios, priced between $349,000 and $370,000, to six two-bedroom, two-bathroom lofts priced from $540,000 to $580,000.

The first potential buyer arrived at the sales office at 1:30 a.m. on Friday, said Lynn Kenton, a spokeswoman for the project.

Officials gave out 20 place-saving tokens by Friday evening, and 60 total, before sales began at 9 a.m. on Saturday.

“Some people were there for themselves, and there were some who had it all planned and took shifts,” Kenton said. “And there may have been other people representing the person who wanted to purchase.”

This Lofts @ The Collection is the second phase of A&B’s The Collection, which will consist of a tower with two-and-three-bedroom condos, as well as a third phase made up of townhouses.

The $200 million, 397-unit project is located at the former CompUSA site at Ala Moana Boulevard and Auahi, South and Keawe streets.

HONOLULU —Developer Alexander and Baldwin just unveiled the newest phase of their Kaka’ako project dubbed the Collection.

It will include 48 one-bedroom and six two-bedroom condos with a starting price around $350,000.

“A&B Properties, Inc. is thrilled to offer these contemporary loft-style homes with both design and price set to appeal to young professionals, new families, college students, and truly anyone looking for the affordable urban-lifestyle,” said A&B Properties President Christopher Benjamin.

The project has Hawaii Community Development Authority and neighborhood board approval.

Sales will begin in the summer.

The condos will be offered for purchase without income or re-sale conditions.
Read more: http://www.kitv.com/news/new-kakaako-condos-to-go-on-sale/25849512#ixzz31oQjyrXY

HAWAII AMERICANA REALTY

For the past 14 years, Mark G. Howard has practiced his skills as a licensed Realtor in Santa Fe, New Mexico, Las Vegas, Nevada and now Principal Broker & President of 'Hawaii Americana Realty', in Honolulu, Hawaii. He has gained a competitive edge in the real estate market by earning his status as an Accredited Buyer’s Representative (ABR).